Supreme Court’s decision in the case of GMMCO [ 2001 (127) ELT 508] in the context of Related Party Transaction- regarding

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..... preme Court’s decision in the case of GMMCO [ 2001 (127) ELT 508] in the context of Related Party Transaction- regarding I am directed to refer to the Tribunal’s decision against Revenue in the case of Collector of Customs , Madras Vs. General Marketing and Manufacturing Co. Ltd. ( GMMCO), reported in [ 2001 (127) ELT 508], dated, 25 th August, 2000. An appeal no. 2772-73/ 2001 .....

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..... judgments without any occasion is not ratio decidendi." The Hon’ble Apex Court in a matter reported in AIR 1967 SC Shama Rao Vs. State of Pondicherry p. 1680 has held : " It is trite to say that a decision is binding not because of its conclusions but in regard to its ratio and the principles laid down therein. any declaration or conclusion arrived without application of mind or pr .....

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